HTC sells back their stake in Beats Electronics
HTC has started the process of selling back their 24.84% share of Beats Electronics back to the founders for $265 million.
The deal will ultimately see HTC make $85 million on their original stake, which is welcome news for the beleaguered company who has seen its market share drop to only 2.8% in Q2 2013, and their share price drop 90% from their 2011 high.
It is not yet know what effect this will have on the Beats branding and audio focus in many of HTC’s smartphones, including their HTC 8X range, but it is unfortunately clear their adoption of the branding did not do enough to boost the sales of their smartphones and keep the company profitable.
Will any of our HTC 8X-owning readers miss Beats Audio in future HTC products? Let us know below.